This factsheet offers legal considerations aimed at older people when offering financial loans or sums of money as gifts so as to ensure they are protected and can prevent financial abuse.
When money passes between family members, it can sometimes be hard to prove that it was a loan and not a gift. In case of a loan, legal action can be taken to retrieve the money if it is not repaid.
Find out about time limits, what to do if money was not given freely, and what to consider before lending or gifting money to family members.
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